Notestothefinancialstatements
For the financial year ended31December 2015
14.
Deferred tax
Deferred taxasat 31December relates to the following:
Group
Balancesheet
Statement
of comprehensive
income
2015
2014
2015
2014
$’000
$’000
$’000
$’000
Deferred taxassets:
Provisions
370
826
456
(102)
Differences indepreciation for taxpurposes
(10)
192
202
(37)
360
1,018
Deferred tax liability:
Provisions
41
–
(41)
–
Differences indepreciation for taxpurposes
(191)
–
191
(3)
(150)
–
Deferred taxexpense
808
(142)
Tax consequenceof proposeddividends
Thereareno income tax consequences attached to thedividends to the shareholdersproposedby theCompany but not recognisedas a liability in the financial
statements (Note28).
15.
Grossamount due from / (to) customers forcontractwork-in-progress
Group
2015
2014
$’000
$’000
Aggregateamount of costs incurredand recognisedprofits (less recognised losses) todate *
19,653
20,999
Less: Progressbillingsandadvances
(14,528)
(3,919)
5,125
17,080
Presentedas:
Grossamount due from customers for contractwork-in-progress
6,706
19,710
Grossamount due to customers for contractwork-in-progress
(1,581)
(2,630)
5,125
17,080
* Included in cost incurred isanamount of:
Unused inventorieson site
4,021
15,250
Advances received included ingrossamount due to customers for contractwork
1,566
388
Retention sumson construction contract included in trade receivables
–
672
112
113
BAKERTECHNOLOGYlimited
ANNUAL REPORT 2015
